Real Estate Commission
As of the start of 2015, there is currently no government regulation in place with regard to real estate commission in Australia, as the Queensland government has removed the limit on what a real estate agent can charge. The market is now regulated by supply and demand and the influence of the free market.
In metropolitan areas, or CBDs in larger cities, real estate agent commission will tend to be lower than the Australian average, due, in part, to high property prices and a greater number of agents competing to win a listing. Conversely, in rural and regional parts of the country, the real estate agent commission may follow historical trends and be slightly higher. This is caused by lower property prices and fewer competing agents in the market, all meaning that agents can charge higher real estate commission and often need to in order to make a sale more worthwhile.
There are several factors to consider when choosing an agent that’s right for you. Consider the experience an agent has with selling similar properties, their knowledge of an area, or whether or not they are able to employ an appropriate and effective marketing strategy; these are all attributes that can make a great amount of difference to the process and final result of selling your property.
It’s important to compare real estate agents to find the average real estate commission in your area, so try using AgentsCompare. It’s a 100% free online service with no obligations, allowing you to request free quotes from local agents.
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